Singapore tourism receipts rise through H1
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Singapore Tourism Board (STB) has reported increased tourism revenues through the first half of 2014, despite a dip in international arrivals.
H1 tourism receipts grew 2% year-on-year to SG$11.8bn (US$9.2bn), on the back of higher expenditure in Sightseeing, Entertainment & Gaming. Receipts are an important indicator of tourism performance and these results are in-line with STB’s yield-driven strategy as we pursue quality tourism.
Meanwhile, H1 international visitor arrivals dipped 3% to 7.5mn due to the continued impact from China’s tourism law, which was enacted in October 2013. Excluding China, visitor arrivals from the other markets grew 2% over the same six-month period.
Second quarter performance was particularly weak as tourism receipts dipped 3% year-on-year to SG$5.6bn while international arrivals slid 6% to 3.6mn. STB attributes this to lower shopping expenditure, particularly from China, Indonesia and Malaysia. Food & beverage and accommodation spending also fell, while quarterly Sightseeing, Entertainment & Gaming revenues increase 12%.
Comments are closed.